Frequently Asked Questions – FAQs

Application Process

  • How often do you review applications?
    Applications are reviewed on a rolling basis with grants being awarded in June and December.

 

  • Can I apply multiple times if I did not get it the first time?
    There is no limit for the number of times that you apply for the grant. Please note that this is not a lottery, and the number of applications will not increase your chances of being selected.

 

  • Will you inform me if I did not get the grant?
    Because RiseUp receives hundreds of applications each year, we are unable to respond to everyone. Only those who receive the grant will be informed.

 

  • What is the process from start to finish so I don’t miss a step?
    1. Complete your homebuyer education.
    2. Complete our Intake Form.
    3. Fill out the required HUD forms.
    4. Provide more information based on your housing history and budget.
    5. Set an appointment with a RiseUp counselor.
    6. Complete your introductory interview and receive a report.
    7. If selected, you will receive a certificate of grant and further assistance.

 

  • Why are there so many forms?
    As a HUD-certified housing counseling agency, RiseUp is required to obtain certain information as per federal guidelines. Other forms, such as authorization and privacy forms, are designed to protect you by informing you of your rights.

Grant Details

  • How much money do you give away?
    RiseUp offers extremely limited $5000 grants to select individuals who qualify based on income, credit, savings, and other factors.

 

  • Are there restrictions with the grant?
    The $5000 grant may only be used for closing costs and any unused funds must be returned to RiseUp. It cannot be used for down payment assistance, buying down points, or paying real estate agent commissions.

 

  • Is the grant limited to a certain geography?
    While RiseUp focuses predominantly on the Philadelphia metropolitan area, we help clients across the United States. When grants are restricted to a certain geography by our donors, we abide by their parameters.

 

  • Are there any requirements if I do receive the grant?
    Each grant awardee must submit their Agreement of Sale and Lender Estimate to RiseUp and keep us involved in the closing process. Each awardee will also be assigned a Mentor to assist them through the first year of homeownership.

 

  • How will I know if I got the grant?
    Each awardee of the RiseUp $5000 grant will be communicated with by email and/or phone, and will receive a certificate entitling them to the grant. Further interaction with the awardee’s real estate agent, lender, and title company will also be initiated.

 

  • Should I assume I got the grant if I took the homebuyer education course?
    Completing the course does not entitle you to a grant at RiseUp or anywhere else. However, it does prepare you better for homeownership.

Eligibility & Requirements

  • What are the requirements to be considered for a grant?
    Completion of a HUD-Certified homebuyer education program is a requirement. There are minimums for credit score, savings, and job stability as well as HUD-inspired income limits. An introductory meeting with a RiseUp counselor is also mandatory.

 

  • Must I have completed homebuyer education before applying?
    Absolutely. Completing a homebuyer education program is a requirement.

 

  • Where can I take a homebuyer education course?
    RiseUp offers a free homebuyer education course online at On-Demand Homebuyer Education Seminar – RiseUp Fund.

 

  • Must I prove my income?
    Because grants are awarded based on financial need, income must be verified through either pay stubs, tax returns, or another acceptable document.

Additional Assistance

  • Can you help me find more money to buy a home?
    RiseUp HUD-certified housing counselors can assist you in finding additional programs to reduce your out-of-pocket expenses and increase your equity.